In 2018, the global anti-aging and skin rejuvenation energy-based aesthetic devices market generated a revenue of $872.0 million and is predicted to reach $1,612.2 million in 2024, registering a 11.2% CAGR during the forecast period (2019–2024). This is due to the rising medical tourism, awareness about the safe use and advantages of anti-aging and skin rejuvenation energy-based aesthetic devices, geriatric population, and inclination toward Minimally Invasive Aesthetic treatments. These devices are utilized for performing various virtually painless, fast, and non-invasive or minimally invasive aesthetic treatments by making use of different energy-based technologies.
One of the primary factors driving the growth of the anti-aging and skin rejuvenation energy-based aesthetic devices market is the rising medical tourism. The medical industry has been growing rapidly due to globalization and rising awareness among people regarding alternate options for surgical aesthetic treatments. It has been observed over the last few years that patients from developed nations travel to countries such as South Africa, Singapore, Thailand, India, Turkey, Mexico, and Costa Rica for seeking treatment. This is majorly because the treatment offered in these countries is cheaper than in developed countries.
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The surging inclination toward minimally invasive aesthetic treatments is also contributing significantly to the growth of the anti-aging and skin rejuvenation energy-based aesthetic devices market. A report published by the American Society of Plastic Surgeons stated that about 14 million minimally invasive cosmetic treatments were performed in the U.S. in 2014, witnessing a rise of 154% from 2000. Moreover, surgical procedures can result in side-effects and have a high cost. Ascribed to this, the demand for anti-aging and skin rejuvenation energy-based aesthetic devices has been on the rise.
Thus, the market is growing due to the growing popularity of home-based aesthetic devices, rising medical tourism, and increasing inclination toward minimally invasive aesthetic treatments.
